Nordea Investment Management AB increased its holdings in Truist Financial Co. (NYSE:TFC – Free Report) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,755,112 shares of the insurance provider’s stock after buying an additional 95,759 shares during the period. Nordea Investment Management AB owned 0.13% of Truist Financial worth $50,582,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TFC. Moneta Group Investment Advisors LLC increased its stake in Truist Financial by 12,034.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 20,490,356 shares of the insurance provider’s stock valued at $881,700,000 after acquiring an additional 20,321,500 shares during the last quarter. Norges Bank bought a new stake in shares of Truist Financial during the fourth quarter worth $553,718,000. Bank of Montreal Can bought a new stake in shares of Truist Financial during the second quarter worth $124,987,000. Morgan Stanley grew its stake in shares of Truist Financial by 32.6% during the fourth quarter. Morgan Stanley now owns 15,511,098 shares of the insurance provider’s stock worth $667,443,000 after buying an additional 3,813,439 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Truist Financial by 65.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 7,592,182 shares of the insurance provider’s stock worth $258,893,000 after buying an additional 2,992,820 shares during the last quarter. 71.11% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have weighed in on TFC shares. Bank of America raised shares of Truist Financial from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Thursday, January 4th. Piper Sandler boosted their target price on shares of Truist Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, January 19th. Evercore ISI boosted their target price on shares of Truist Financial from $31.00 to $33.00 and gave the stock an “in-line” rating in a research note on Monday, November 20th. Royal Bank of Canada boosted their price objective on shares of Truist Financial from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Finally, UBS Group increased their price objective on Truist Financial from $37.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Truist Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.87.
Read Our Latest Stock Report on Truist Financial
Truist Financial Stock Performance
Shares of TFC opened at $36.10 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $48.15 billion, a P/E ratio of -33.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.09. The firm’s fifty day simple moving average is $36.66 and its two-hundred day simple moving average is $32.25. Truist Financial Co. has a 12 month low of $25.56 and a 12 month high of $48.53.
Truist Financial (NYSE:TFC – Get Free Report) last released its quarterly earnings data on Thursday, January 18th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Truist Financial had a negative net margin of 3.28% and a positive return on equity of 9.64%. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, analysts predict that Truist Financial Co. will post 3.39 EPS for the current year.
Truist Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 5.76%. Truist Financial’s dividend payout ratio (DPR) is presently -192.59%.
Truist Financial Profile
Truist Financial Corporation, a holding company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings. Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.
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